Google-Stake Sale Boosts Yahoo!'s Q3

Yahoo! last week reported that its third-quarter net income nearly quadrupled to $253 million, or 17 cents per diluted share, from $65 million, or 5 cents per diluted share, in the year-ago quarter. Of that $253 million, $129 million, or 9 cents per diluted share, came from Yahoo!'s sale of a portion of its stake in Google following that company's August IPO and the related tax benefits. Yahoo!'s Q3 revenue increased 154 percent to $907 million; about 84 percent of that, or $765 million, is derived from advertising and marketing. The Web portal is based in Sunnyvale, Calif.

Yahoo! last week reported that its third-quarter net income nearly quadrupled to $253 million, or 17 cents per diluted share, from $65 million, or 5 cents per diluted share, in the year-ago quarter. Of that $253 million, $129 million, or 9 cents per diluted share, came from Yahoo!'s sale of a portion of its stake in Google following that company's August IPO and the related tax benefits. Yahoo!'s Q3 revenue increased 154 percent to $907 million; about 84 percent of that, or $765 million, is derived from advertising and marketing. The Web portal is based in Sunnyvale, Calif.